Difference Between EIN and ITIN (Updated in 2020)

Difference Between EIN and ITIN

If you’re filing taxes, you might be wondering, what’s the difference between EIN and ITIN?

You want to be sure that you file taxes with the IRS correctly to save you time and money down the road, not to mention avoiding legal consequences.

However, you aren’t quite sure whether you need an EIN to file or an ITIN.

What’s the difference between an EIN vs ITIN?

Which one should you use to file taxes?

How do you apply for an EIN or ITIN?

Read below so I can answer all of your EIN and ITIN questions and clear up once and for all the difference between EIN and ITIN.

If you need help setting up your EIN or ITIN, I can make sure you do it the right way. Email me at sam@mollaeilaw.com as soon as possible to be sure you’re taken care of by a qualified business lawyer.

 

What is EIN

An EIN is a tax identification number for a business.

The acronym ‘EIN’ stands for ‘Employer Identification Number.’ This number is how a business is identified to entities like other businesses,